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Updated over 8 years ago on . Most recent reply

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Bill Flannagan
  • Aurora, IL
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How to account of landlord labor in security deposit return

Bill Flannagan
  • Aurora, IL
Posted
I recently completed my first year of being a landlord. The lease has ended and I owe the tenants part of their security deposit back. I had to have some repairs completed. Some things I had to sub out and have invoices to backup the cost. However some of the work I did myself. It took time and feel I should account for the labor for the repairs. Am I correct in charging for the time it took me to repair the property to its original state? If so, how do I account for those costs when itemizing the costs in returning the remaining amount of the security deposit? Thanks in advance for your help! Bill

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Gail K.
  • Augusta, GA
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Gail K.
  • Augusta, GA
Replied

This is the actual statute regarding security deposit return for the state of Illinois.  it does address landlord labor.   

(765 ILCS 710/0.01) (from Ch. 80, par. 100)
Sec. 0.01. Short title. This Act may be cited as the Security Deposit Return Act.
(Source: P.A. 86-1324.)

(765 ILCS 710/1) (from Ch. 80, par. 101)
Sec. 1. A lessor of residential real property, containing 5 or more units, who has received a security deposit from a lessee to secure the payment of rent or to compensate for damage to the leased property may not withhold any part of that deposit as compensation for property damage unless he has, within 30 days of the date that the lessee vacated the premises, furnished to the lessee, delivered in person, by mail directed to his last known address, or by electronic mail to a verified electronic mail address provided by the lessee, an itemized statement of the damage allegedly caused to the premises and the estimated or actual cost for repairing or replacing each item on that statement, attaching the paid receipts, or copies thereof, for the repair or replacement. If the lessor utilizes his or her own labor to repair any damage caused by the lessee, the lessor may include the reasonable cost of his or her labor to repair such damage. If estimated cost is given, the lessor shall furnish the lessee with paid receipts, or copies thereof, within 30 days from the date the statement showing estimated cost was furnished to the lessee, as required by this Section. If no such statement and receipts, or copies thereof, are furnished to the lessee as required by this Section, the lessor shall return the security deposit in full within 45 days of the date that the lessee vacated the premises.
Upon a finding by a circuit court that a lessor has refused to supply the itemized statement required by this Section, or has supplied such statement in bad faith, and has failed or refused to return the amount of the security deposit due within the time limits provided, the lessor shall be liable for an amount equal to twice the amount of the security deposit due, together with court costs and reasonable attorney's fees.
(Source: P.A. 97-999, eff. 1-1-13.)


Gail

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